$PMBC Increases Financing for #MarqueMedical to $3.9 Million

COSTA MESA, Calif., Nov. 18, 2016  — Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that it has increased the financing for Marque Medical to $3.9 million.  The financing will be used by Marque Medical to open new urgent care clinic locations in Orange County.  In addition to the financing, Marque Medical utilizes a full suite of Pacific Mercantile Bank’s cash management services.

Marque Medical operates Marque Urgent Care, a patient-centered network of walk-in clinics.  Through its six locations in Orange County and San Diego County, Marque Urgent Care treats a range of non-life-threatening injuries and illnesses for adults and children in addition to providing general wellness services.  With each location fully staffed with experienced, multi-specialty physicians, Marque Urgent Care has elevated the standards of walk-in care by combining the best-in-class physicians, upscale and modern facilities, and a first-class approach to serving patients.

“Pacific Mercantile Bank has been highly supportive of our growth plans and provided the short-term and long-term credit facilities we needed to open our newest locations in Mission Viejo and Buena Park,” said Pierre Bergougnan, CEO of Marque Medical.  “We appreciate the time that the team from Pacific Mercantile Bank took to understand our expansion plans and customize a credit facility that accommodates the timing of the opening of our new clinics and supports our increasing working capital needs as our business grows.”

“Marque Medical has proven its business model and filled a critical gap between crowded primary care offices and costly emergency rooms,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank.  “We are very pleased to help Marque Medical open new urgent care clinics and better serve the medical needs of residents throughout Orange County.”

About Pacific Mercantile Bank

Pacific Mercantile Bank opened for business March 1, 1999. The Bank, which is FDIC insured and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business owners and business professionals through its combination of traditional banking offices and comprehensive, sophisticated electronic banking services.

The Bank, headquartered in Orange County, operates a total of nine offices in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. In addition, the Bank offers comprehensive online banking services accessible at www.pmbank.com.  Pacific Mercantile Bancorp (NASDAQ:PMBC) is the parent holding company of Pacific Mercantile Bank.

Forward-Looking Information

This news release contains statements regarding our expectations, beliefs and views about our plans to continue to build our loan portfolio and supporting systems and processes.  These statements, which constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, can be identified by the fact that they do not relate strictly to historical or current facts. Often, they include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are subject to numerous risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond our control. These risks and uncertainties include, but are not limited to, the following: the impact of interest rates and other external economic factors and competition among financial services providers. We undertake no obligation (and expressly disclaim any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors set forth under the headings “Risk Factors” in our most recent Form 10-K and 10-Q reports and to our most recent Form 8-K reports, which are available online at www.sec.gov. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition.

 

Pacific Mercantile Bank Contact:
Kittridge Chamberlain
EVP & Chief Banking Officer
714-438-2500